2025 (10) TMI 1352

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....e facts and circumstances of the case, the Ld. CIT(A) has erred in law and in facts while deleting the addition of Rs. 10,04,97,350/- u/s 69A r.w.s 115BBE of the Income Tax Act, 1961 ignoring that when the assessee is no explanation to offer for the deposits in his bank account, the same has to be added to the total income. 2. Because on the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the addition of Rs. 10,04,97,350/- ignoring the fact that the onus is on the assessee to prove the source of any income/deposit in bank account. 3. Because on the facts and circumstances of the case, the Ld. CIT(A) has erred in deleting the addition of Rs. 10,04,97,350/- ignoring the fact that even the....

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....isions of section 69A of the Act. Aggrieved against this, the assessee preferred an appeal before the Ld. CIT(A) who deleted the impugned addition. Aggrieved against this, the Revenue is in appeal before this Tribunal. 5. The Ld. Departmental Representative for Revenue supported the assessment order and submitted that in the absence of requisite information from the banker of the assessee, the AO was justified for invoking the provisions of Section 69A of the Act and making the impugned addition. He contended that the onus was on the assessee to prove that the amount deposited in his bank account belonged to the State Bank of India, as claimed by him. The assessee failed to discharge the onus cast upon him. Hence, under the facts and cir....

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.... manager in this regard "we submit that Sh. ShyamSagaryadav was working as banking corresponding during the period in question i.e. 01.04.2016 to 31.03.2017 and as per the agreement with the bank he was authorized to collect cash and make payments under terms of agreement. The branch is presently not in the position to confirm/verify that the amount deposited by the assessee in the said account was consequently deposited in the concerned account holder's account since the volume of the transactions is quite large. However, we would like to submit that we have received no complaints against the assessee for the period in question for non-deposit of amount in concerned account holder's account which may answer your query". However, the Assess....